This week, the Community Advisory Committees (CAC) for Caesars Palace Times Square and The Avenir were voted rejected, reducing the number of downstate New York casino bids by two.

The proposal needs to obtain a three-fifths majority from its CAC before the New York Gaming Facility Location Board can consider a casino for one of the three available casino licenses.

The Caesars Palace Times Square CAC rejected the proposal at 1515 Broadway with a vote of 4-2 this week.  With a 4-2 CAC decision, New York real estate magnate Larry Silverstein's project, The Avenir, was likewise dealt a losing hand.

Six offers are left for the three licenses after the votes.  Not all CACs have cast their votes yet.

 

Odds for Freedom Plaza

There is only one bid left in Manhattan after Wynn Resorts withdrew from the competition in May and Caesars Palace and The Avenir were shut down.  It originates from Mohegan, the Connecticut-based Mohegan Tribe's commercial gaming organization, and the Soloviev Group.

The $11 billion proposal, called Freedom Plaza, would develop a five-acre land that has long belonged to the Soloviev family.  Soloviev and Mohegan have partnered to propose an integrated resort located south of the UN headquarters, which will include over 1,000 additional residences, 600 of which would be affordable housing.  The location would have a "museum dedicated to democracy," a community center, a childcare facility, a food market, and retail stores in addition to a resort and casino.

According to Michael Hershman, CEO of Soloviev, Manhattan, the center of New York City, ought to have one of the downstate casinos.

"Despite the defeat today of two formidable applicants, we remain confident that one license should be awarded in Manhattan. Attracting more tourists than any other borough, the city should have a fully integrated resort that is fitting of its position as the global capital of the world,” Hershman said in a release to Casino.org.

“Proposing historic levels of public benefits, the $11 billion project will activate a long-dormant lot with urgently-needed new housing, create a huge public park advancing community connection to the waterfront, bring in dynamic hotels with diverse dining and modern entertainment that will power thousands of union jobs and generate revenues funding hundreds of millions in legally-binding community benefits. A transformative, generational piece of urban planning not seen in NYC in decades, Freedom Plaza embodies our core belief that development must serve the people who live, work, and visit here,” Hershman added.

 

MGM, Favored by Genting

Two of the three licenses have long been thought to be reserved.

The majority of analysts believe that MGM Resorts and Genting are strong candidates for two of the licenses, despite state officials denying that they are the front-runners for two of them due to their established presence in New York, running Empire City Casino in Yonkers and Resorts World New York City in Queens, respectively.

Hard Rock is still in the competition for a Queens casino at the ballpark of the New York Mets.  A group led by the Chickasaw Nation and Saratoga Casino Holdings is attempting to take over Coney Island, and Bally's is struggling to survive in the Bronx.